Monday, Jun 14, 2010
Here we go....
Observer: Home sales to fall
Missed this yesterday. Not "news" to HPC readers but good all the same.
Posted by chrisch @ 10:08 AM (939 views) Add Comment
2 Comments
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1. mark wadsworth said...
Ho hum. This mantra that public sector employment is lower in London and South East is not actually true, apparently one-in-four workers in London works directly or indirectly for the government, i.e. exactly the same as anywhere else. Plus the public sector people in London tend to be the better paid public sector people.
"[Savils] now predicts falls [for the rest of] – between 2.8% and 4.1% in southern England and London, about 5% in the Midlands and 7% in parts of northern England."
No rush to buy, then. Even a 2.8% fall in one year would be more than our net rent (i.e. rent paid minus interest earned on the money we've got earmarked to buy a house). As long as prices fall by 2% or more nominal, it's best for us to hang on renting.
PS, not clear to me if they mean a 2.8% fall in the period July - December 2010, or for the whole of 2010 or what, but it's all guesswork.
2. dbc reed said...
Hundreds of thousands of public sector workers are to lose their jobs and everybody wonders what the effect will be on house prices.
British politics is a pantomime where upper-class twits sashay around without realising they are making complete fools of themselves.
Larry Elliott writes of government slash and burn in today's Guardian:"So why is the government doing it?Is it, for all Nick Clegg's guff about 'progressive cuts' ,that the real agenda is to finish the demolition job on the welfare state that began in the 1980's? Or are the deficit hawks simply crackers?" Would have thought the answer's both.